Running a landscaping business involves lots of tools, material, workforce, machinery, as well as money. Your clients want you to make their home, office, along with premises look attractive. Liabilities expand with the expansion of the business. This demands to protect your business from unexpected incidents such as loss, theft, and injury to employee you need landscape business insurance. As most of the time landscape professionals work in an open space, it is essential to ensure the safety of their product and machinery. Incidents that demands for landscaping business insurance are:
Every day landscaping service employee’s work with dangerous equipment in hazardous conditions. From a small bee sting to repetitive motion due to mowing and another maintenance task can cause injury on duty. To overcome such liabilities you need a worker’s compensation insurance that provides a shield to your business to compensate such losses.
Being into a landscaping business you need to transport tools, machinery, as well as supplies to serve your clients. Inland Marine insurance covers your equipment like mowers, sheers, weed eaters, and other tools while transporting them from one site to another.
The personal auto insurance does not cover your vehicle if you use it for commercial purpose. You need to buy commercial auto insurance to cover damage caused to your equipment and workforce.
If you are planning to expand your business you require an extra cover to compensate for losses that exceed the amount of coverage under a general liability policy. Suppose your commercial truck had an accident and after a survey, it is declared that you will get said amount which is lower than the loss you suffer, then how can you compensate for the extra loss. At that time Umbrella liability will protect your business to provide the remaining amount.
To buy a landscape insurance policy which protects your business, you need to consider the following steps:
Collect the Right Information: You should have exact information of some equipment, products, and employees to insure your landscaping business. The documents require are:
Business contact information
Number of employees
Number and type of vehicles
Your personal work experience in the industry
Since how long you are running a landscaping business
Details of types of insurance covered you already have
Past three years claim history if any
Business license and related certificates
Your Risk Exposures: Every industry has their risks. Major risks involved in landscaping business are an injury to person and property. Theft, damage to the third party, damage to tools and equipment, are all concerns that you need coverage for.
Value your Coverage: You should not be under-insure neither you should buy insurance beyond the requirement. If possible try to buy a policy that covers everything under one policy.
Hire a Broker: Hire a broker or agent who is expertise in providing a landscape insurance policy. You can save your time and efforts and get the expert advice on how to complete all the documentation and requirements to ensure your business.
Landscape insurance is needed as the business involves types of risks which if not cover can ruin your business, and you have to face the court for trials.